Posts Tagged ‘Central Bank of Nigeria’

Bank Charges on Deposits, Withdrawals, begins April 1

by Ikokwu Ikembaon March 6, 2020
The nationwide implementa-tion of the Central Bank of Nigeria (CBN)’s cashless policy on deposits and withdrawals above N500,000 will take effect nationwide from April 1. This was made known in an electronic mail message sent by the Guaranty Trust Bank to its customers yesterday. According to the message, there will be three per cent processing […]

CBN seeks recycling proposal on 100 tonnes of mutilated naira notes destroyed weekly

by Ikokwu Ikembaon February 10, 2020
The Central Bank of Nigeria (CBN) said that about 100 tonnes of bad naira notes were generated as waste and destroyed weekly through open air burning at its 12 disposal centres across the country. Meanwhile, the apex bank has commenced the process of collaboration with private firms to recycle bad naira notes instead of open […]

CBN Denies Suing Rice Farmers in Kebbi Over Unpaid Loan

by Ikokwu Ikembaon February 10, 2020
The Central Bank of Nigeria has scrambled a denial to a media report that the federal government sued many of the 70,000 rice farmers for failing to pay back N17 billion loan under the Anchor Borrowers’ Programme. The bank’s spokesperson, Isaac Okorafor, told News men on Thursday that the report that 70,000 farmers in Kebbi […]

CBN Shifts January 2020 MPC Meeting

by Ikokwu Ikembaon January 14, 2020
The first meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) for 2020, earlier slated to hold on Monday and Tuesday, January 20 and 21, 2020, respectively,has now been rescheduled for Thursday and Friday, January 23 and 24, 2020. The CBN regrets any inconvenience this change may have caused its […]

Federal Consumer Protection Council re-iterates

by Ikokwu Ikembaon January 3, 2020
The Federal Consumer Protection Council has come up with a guide on bank charges and withdrawals to further enlighten Nigerians on what exactly is obtainable in the banking institutions. The information came through their public Twitter handle where graphical information was also made available, see the tweet below: BANK CHARGES: Are you concerned about bank […]

Ecobank: National Industrial Court orders reinstatement of sacked staff

by Ikokwu Ikembaon December 23, 2019
Hon. Justice Sanusi Kado of the National Industrial Court (NIC) Abuja judicial division, has declared the employment termination of Mr. Bello Ibrahim by Ecobank without valid justifiable reasons as wrongful and total disregard to the international best practices. The Court ordered immediate reinstatement of Bello back to the employment of Ecobank and payment of N500,000.00 […]